Frontwave Credit Union

Overview / Commentary
1278 Rocky Point Dr
Oceanside, CA 92056

Frontwave Credit Union is headquartered in Oceanside and is the 55th largest credit union in the state of California. It is also the 354th largest credit union in the nation. It was established in 1952 and as of December of 2020, it had grown to 244 employees and 111,371 members at 14 locations. Frontwave Credit Union's CD rates are 4X the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Frontwave Credit Union is open to those who live, work, or worship in the California counties of Riverside, San Bernadino, or San Diego. Immediate family members of current Frontwave Credit Union members also qualify.
See current membership details

Reviews (5)

Satisfied Customer

Posted by: |

I have belonged to a different credit union and had an account at US BANK at different times. The credit union started out great for many years but then slipped into the same unhelpful money grubbing with fees as the bank. I'm now with Frontwave and what a breath of fresh air. Always well staffed with cheerful, nice employees. If you have a question or problem they take care of it. There are almost nonexistent fees. So glad I changed to them for my banking

A great local credit union

Posted by: |

Back when I used to live in California, they had a branch out in Barstow, CA. It was an extremely big building and welcoming. It was also very professional looking, though they had more tellers than necessary at most times. The staff would always greet you with a smile and if you had an issue with filling out paperwork they were happy to help or send me to the appropriate department. I wasn't sure what the tellers were capable of since I was young, but they're very nice to those new to banking. The interest rates for just about anything beat the major banks out there. The one thing they were a decade behind on was an online presence. It looks like they've improved upon that since I was last with them. Their branch is only available in California, but I strongly recommend them. If they are not available to you, they recommended us to fairwinds when we moved and their services are equal. That includes fees for things like an inactive debit card, not meeting your monthly minimum deposit, etc. Either way, it's a good place.

Member Privacy Data Compromised

Posted by: |

Frontwave used to have a published Privacy Policy which explicitly stated that they do not share member's privacy data with any third parties, period. Without notice, they started providing member privacy data (name, address, DOB, etc) to a third party life insurance company, which commenced sending solicitations by "Presort Standard" mail (also known as "Bulk" mail or "Junk" mail). These mailed solicitations included member privacy data including name, address, DOB, etc. This was a breach of their published Privacy Policy in effect. I brought this to the attention of their entire management staff including President/CEO, Supervisory Committee, and Board of Directors to no avail. They seem to be either woefully ignorant of privacy laws and requirements, locked in a state of denial, or callously disrespectful of Privacy expectations regarding their members.

You Can't Afford This....

This could be really bad if you're fixed / low income, this is your only bank or you can't afford to write of bad experiences.

They started off good but then our ATM cards didn't work and couldn't log on online. Why? They changed the system. They said they had mailed us a letter. We had to take a day off from work to try to fix this, then the wise-guy who demanded he be the one to fix it really screwed things up worse. The bank manager's assistant fixed it (and was nice), after which we got the letter. We used another bank to pay our debtors. This bank didn't even pay the late fees that were their fault.

Then they started miscounting funds, then repeatedly depositing funds in the wrong account, followed by charging LOTS of overdraft fees before there was even an overdraft. Eventually the overdraft charges themselves caused an overdraft situation in one account.

We've ceased using the accounts in this credit union just to see if they'll continue charging late fees and to let any valid transactions clear If the fees continue, we'll go to Department of Corporations or whomever sends bank examiners to audit these problems.

We might keep this as an emergency ATM card account but that's all we're willing to risk now.

Guantanamo Bay Banking

Posted by: |


San Marcos, CA

  8/14/2010 As of 2009, Gitmo Bay banking run by military jarheads who have issues with civilians.  Enter, wait at least 15 min. even if 5 staff are not helping any other person.  Must remove  all headgear. Must remove sunglasses, you terrorist suspects. Present preprinted deposit slip supplicating to make deposit. Repeat name. Repeat address. Repeat telephone number, all verbally to teller. This "proves" your identity, or that identity thieves can READ.  These are on the bank's own slip already yet. Say that you have not changed your address, verbally, from that of the slip. Ditto.  Provide password. ONLY THEN  can you  potential terrorists/thieves present cash or checks as inbound tickets. Every other bank in America, anyone can DEPOSIT to anyone's account, of themselves or others, by giving  pre-existing account # and name--nothing is leaving the institution, after all. It does not take half an hour and interrogation. I shudder to think about  attempting a withdrawal, an armed marine would probably have to supervise  your every step.


Health Grade Components

NCUA #68494
Year Chartered1952
Primary Regulator
Profit Margin
Return on Assets - YTD0.37%
Return on Equity - YTD3.26%
Annual Interest Income$32.5MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$1.08B$877.5MM
LoansQ4 2020vs Q4 2019$648.1MM$613.9MM
DepositsQ4 2020vs Q4 2019$941.3MM$750.2MM
Equity CapitalQ4 2020vs Q4 2019$121.0MM$113.8MM
Loan Loss AllowanceQ4 2020vs Q4 2019$6.6MM$5.4MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$1.7MM$1.7MM
Real Estate OwnedQ4 2020vs Q4 2019$0$0
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Always verify rates and promotions with the bank or credit union. We are not Frontwave Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Frontwave Credit Union Savings Account Rates

0.05%$5-Share Savings Account
0.05%$50-Individual Retirement Account

Frontwave Credit Union Money Market Rates

0.10%*$25k*-Money Market
OTHER TIERS: 0.05% $2.5k - $25k
0.10%*$25k*-Money Market IRAs
OTHER TIERS: 0.05% $2.5k - $25k

Frontwave Credit Union Checking Account Rates

0.05%$5-Dividend Plus
0.01%$5-Business Dividend

Frontwave Credit Union CD Rates

4.00%$100$5001 Year Military Saver Certificate
3.00%$100$5001 Year Saver Certificate
1.20%$100$5003 Year Military Saver Certificate
1.10%$100$5002 Year Military Saver Certificate
1.00%$1k-5 Year Share Certificate
0.95%$100$5003 Year Saver Certificate
0.85%$100$5002 Year Saver Certificate
0.80%$1k-4 Year Share Certificate
0.80%$100$5006 Month Military Saver Certificate
0.70%$1k-3 Year Share Certificate
0.60%$1k-2 Year Share Certificate
0.55%$100$5006 Month Saver Certificate
0.40%$1k-1 Year Share Certificate
0.30%$1k-6 Month Share Certificate

Frontwave Credit Union IRA Rates

1.00%$1k-5 Year IRA Share Certificate
0.80%$1k-4 Year IRA Share Certificate
0.70%$1k-3 Year IRA Share Certificate
0.60%$1k-2 Year IRA Share Certificate
0.40%$1k-1 Year IRA Share Certificate
0.30%$1k-6 Month IRA Share Certificate


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